109 BMW Group Report 2024 To Our Stakeholders Combined Management Report Group Financial Statements Responsibility Statement and Auditor’s Report Remuneration Report Other Information Sustainability Statement necessary. In addition, the Board of Management and the Super- visory Board regularly discuss the further development of the various key topics from the sustainability strategy. The identified material impacts, risks and opportunities are also taken into con- sideration. Even though these discussions are informative in na- ture, they also include decision papers, each orientated towards current thematic developments. The results of the materiality as- sessment, including the material impacts, risks and opportuni- ties, are presented to the Board of Management by the Group Reporting function for discussion. ↗ Materiality Assessment, ↗ List of material Impacts, Risks and Opportunities. Material impacts, risks and opportunities are also discussed by the Board of Management on a regular basis when updating the environmental analysis. The Board of Management sets the organisational, structural and content-related framework for business conduct, ensures that it is dovetailed with and integrated into the Company’s man- agement and governance systems, and receives reports on their implementation. This is also true for the topics of Combating cor- ruption and bribery and Political engagement and lobbying activ- ities ↗ Governance Information. The Supervisory Board receives re- ports on business conduct as part of its monitoring activities. In addition, the Board of Management of BMW AG has estab- lished the following committees with the participation of Board of Management members to address selected topics of particular importance in greater depth and across departments: — The Board of Management’s Digitalisation Committee (VA-D): The VA-D advises and makes cross-departmental decisions on all material issues related to improving and dig- italising the BMW Group’s corporate processes, and thereby makes a decisive contribution to ensuring that the Group’s performance is guided by its strategy. In this context, the VA-D deals with overarching IT projects, IT platforms and IT initiatives, in addition to process-specific and digital perfor- mance levers and key performance indicators (KPIs). The VA-D also consistently addresses obstacles to transfor- mation within the Company and defines the transformation focus, timing and resources, as well as the financial control model for platforms/data. Moreover, the VA-D is responsi- ble for prioritising/financing innovations in the area of digi- talisation as well as strategic recruiting measures and qual- ification programmes to ensure our employees have rele- vant skills. — The Board of Management’s Senior Executives Committee (VA-F): The VA-F deals with issues affecting managers of the BMW Group, either in their entirety or individually, such as the management structure, employees with particularly high levels of potential, and the appointment of senior exec- utives (OFK). The relevant specialist functions present infor- mation about general HR-related issues and developments to the VA-F so that the future direction of the Company’s personnel can be set as early as possible. In this context, the VA-F can act as a decision-making body, issue advice, make recommendations, or act in a preparatory function, depend- ing on the circumstances. — The Board of Management’s Operations Committee (VA-O): The VA-O provides advice and makes cross-depart- mental decisions related to automobile product projects fol- lowing confirmation by the Board of Management. In this context, the VA-O deals with the operational implementa- tion of vehicle projects, strategic modules from the develop- ment process to the start of production/market launch, on- going series production and further development. In addi- tion, the VA-O monitors the objectives set for focus and quality topics for automobile product projects and shapes the procedural framework for its area of responsibility across departments. Experience (Access to) expertise In relevant markets In relevant areas of competence Sustainability Europe Individual mobility Climate change US Corporate strategy Pollution China Technologies Water and marine resources Other Production Biodiversity and ecosystems Sales Circular economy and resource use Finance Own workforce Personnel management Workers in the value chain Digitalisation Consumers and end-users Supply chain Business conduct Development Skills matrix Board of Management